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3 often overlooked benefits of an employee assistance plan
There are several obvious and often talked about benefits to having a great employee assistance plan (EAP) in place. We know the services provided greatly benefit employees and their eligible dependents by giving them tools and strategies to deal with stressors and circumstances. Employers see improved employee engagement, morale, and attendance when their staff can access EAP services. The impact of these services runs deeper than that. Here are three additional benefits your organization will experience with the right EAP in place.
1. Saving money
Do you know that old saying that you have to spend money to make money? It kind of applies here. When employers invest in an organization-wide EAP, that spending earns a real return. After years of reviewing data across a wide range of organizations in North America, we know that for every dollar invested into these services employers will save anywhere from $5 to $16. That’s a return on investment to get excited about!
The savings come from a variety of sources. There are typically fewer insurance and disability claims. This can lead to long term cost savings on insurance premiums. Employees have fewer missed days from work and are more productive when present. Retention rates increase which means there is less money spent on recruiting.
2. Improved workplace culture
Great workplace culture has many benefits, the most important of which is creating a space where employees feel safe, supported, and able to be their best selves. Providing EAP services to employees can help organizations build and evolve a healthy, positive, and dynamic workplace culture. For example:
• Employees that have support and a plan for tackling their stressors are more likely to be focused and productive at work.
• Employees with better mental health are typically more positive and contribute to a better work environment.
• An EAP program can be a key tool in creating and sustaining a safe workplace, which is imperative for a healthy workplace.
In the absence of EAP support, struggling employees may become difficult to work with and manage, which can negatively impact their co-workers. This can lead to increased interpersonal conflict, decreased quality of work, increased incidents of violence, and more staff turnover.
3. Quick and effective resolution of complex situations
A well-executed EAP is your best tool for dealing with complex situations in the workplace. If there are interpersonal issues or an employee that is having a significant negative impact on the workplace, EAP specialists can quickly intervene and put a plan in place to address the situation. This is typically far more effective than having managers or the Human Resources department handle the situation because the work is being done by an impartial third party at arm’s length.
In the event of a critical or traumatic incident that has an impact on the workplace, qualified counsellors can be deployed immediately to provide support. Most organizations don’t have the in-house expertise to handle critical incidents and their own affected employees should not have to shoulder the burden of supporting others when they may also be struggling. Failure to provide immediate support after extraordinary circumstances can have long term consequences such as post-traumatic stress.
EAP support can be tailored to individuals and different groups within the workplace. Counsellors can provide additional support and training to help managers successfully mitigate the effects of an incident over the long-term, helping to minimize any negative impact on employees and the workplace.
The benefits of having an EAP in place for your Alberta-based business are overwhelming. We have seen the positive impact of our services in organizations just like yours. We are happy to chat with you about these programs and provide additional information on services and pricing. Our consultations are free and come with no obligation.
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